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Sunday, December 10, 2023

St. Kitts And Nevis Citizenship By Investment Benefits And Requirements

Part of the Lesser Antilles, a collection of islands roughly 2,000 kilometers southeast of Miami, St. Kitts and Nevis—also referred to as Saint Christopher and Nevis in the nation’s constitution—became independent in 1983.

Nevis (around 93.2 km2) and St. Kitts (168.4 km2) are the two islands that make up the federation. English is the official language used in business.

Along with several other international organizations, the federation is a member of the Organization of American States, CARICOM, and the British Commonwealth.

With its main office located in St. Kitts, the Eastern Caribbean Central Bank is responsible for upholding the stability of the Eastern Caribbean Dollar (ECD), which is the currency of most Eastern Caribbean nations and is pegged to the US dollar.

The King of England serves as the head of state of St. Kitts and Nevis, a democratic nation operating under the framework of the British parliamentary system.

The climate of the nation is pleasant, especially in the milder months of December through March. The islands have consistent northeast trade breezes that keep them cool and generally low in humidity.

Investors can find favorable prospects in St. Kitts and Nevis. The labor force is polite, educated, and speaks English.

The St. Kitts and Nevis government has enacted a number of laws in an effort to draw financial services companies to the island.

Since 1984, there has also been an initiative called “citizenship by investment,” which enables international investors to become citizens under specific guidelines.

This makes it the most respected and oldest citizenship by investment scheme currently in place.

For those seeking to improve their citizenship by investment and get alternative citizenship, the St. Kitts and Nevis Citizenship by Investment Program is a compelling choice.

In an effort to further develop their nations, a number of states, including St. Kitts and Nevis, have implemented policies that permit citizenship to be obtained through investment or direct service to the state.

Historical context and legal implications

Since its founding in 1984, St. Kitts has offered citizenship to individuals who have contributed economically to the nation. Full citizenship is awarded to them and their family in return.

Part II, Section 3 (5) of the Citizenship Act, 1984 and the Saint Christopher and Nevis Citizenship by Investment Regulations, 2011 provide the legal foundation for citizenship by investment. These clauses give the government the authority to run a program in which those who meet the requirements—which are decided by the cabinet—are awarded citizenship.

Benefits of the St. Kitts and Nevis Citizenship by Investment Program

When you acquire citizenship under the St. Kitts and Nevis citizenship program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent.

  • Citizenship by descent is available to future generations.
  • Ability to include a spouse, children under 26, and parents aged 65 and over, as well as to add dependents after citizenship has been granted to the main applicant.
  • St. Kitts and Nevis is a member of the Commonwealth, which entitles its citizens to certain privileges in the UK and other Commonwealth countries.
  • The dual-island nation is an attractive location for owning a second home, with good air links to Europe and North America.
  • Dual citizenship is allowed by the nation.
  • There is no minimum stay required. 

St. Kitts and Nevis citizenship by investment requirements

The St. Kitts and Nevis Citizenship by Investment Program requires applicants to make a significant economic contribution to the country.

In exchange, and subject to a stringent application procedure including thorough background checks, the applicants and their families are granted full citizenship.

To qualify for citizenship, the main applicant must be over 18 years of age, meet the application requirements, and select one of the following options:

1. Sustainable Island State Contribution (SISC)

The following non-refundable contributions apply:

—    USD 250,000 for a main applicant

—    USD 300,000 for a main applicant and a spouse or one dependent

—    USD 350,000 for a main applicant, a spouse, and one or two dependents

—    USD 50,000 for each additional dependent under 18 years old

—    USD 75,000 for each additional dependent over 18 years old

2. Approved Public Benefit Project

A minimum non-refundable contribution of USD 250,000 to a public benefit unit in an Approved Public Benefit Project.

3. Real estate acquisition

The acquisition of property with a minimum value of USD 400,000 from a development that has been approved, or a minimum value of USD 400,000 for a condominium or USD 800,000 for a private single-family home.

Both alternatives allow for the possible resale of the real estate after seven years, subject to specific restrictions.

All applications are processed by the Citizenship by Investment Unit (CIU) of St. Kitts and Nevis. The application is carefully reviewed by the CIU, and all investors seeking citizenship by investment must participate in an interview.

Interviews can take place in person at a venue chosen by the CIU and authorized by the Board of Governors, or virtually through default. If it is thought essential, dependents of the primary candidate who is 16 years of age or older may also be asked to attend an interview.

An impartial professional company hired by the CIU to do interviews also runs background investigations on the organization.

In compliance with the standards established by the Board of Governors, independent professional firms in Europe, the UK, and the USA do all background due diligence checks, which are commissioned by the CIU.

If an applicant makes a fraudulent statement or leaves out any pertinent information, the CIU will reject their application.

The required government forms, which are only accessible from an approved service provider, must be filled out by the applicant in person. The program’s documentation requirements are appropriate, and the procedures are simple.

Before deciding to buy real estate, the majority of candidates typically take a trip to the islands; however, this is not a requirement for the application procedure, which typically takes 120 days (four months) from the time the application is submitted to the CIU for approval.

The duration of the real estate option could change based on development, so it’s critical to pick a real estate project that effectively supports the citizenship application.

A Certificate of Registration will be issued to the primary applicant upon approval of the application, completion of all procedures and due diligence checks, and payment of the investment.

The primary applicant must pick up the Certificate of Registration in person in St. Kitts and Nevis or at an embassy or consulate designated by the CIU and authorized by the Board of Governors.

After obtaining the Certificate of Registration, which grants citizenship, the applicant is qualified to submit a passport application.

Dual citizenship

There are no restrictions on dual citizenship in St. Kitts and Nevis.



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